SINGAPORE, June 29, 2023 /PRNewswire/ -- Phemex, a leading crypto exchange platform, recently filed a successful patent application with the Intellectual Property Office of Singapore (IPOS) that addresses two common blockchain exchange platform problems, namely, system upgrade interruptions and network cable unplugging during periods of high traffic. Following a year of extensive development, Phemex has already applied this advanced technology to its Margin Trading product, massively enhancing the trading experience for its users. The new technology will be soon available for unified accounts and new Web3 products.
Phemex's advanced patented technology specifically addresses two problems that have long plagued the industry:
System Upgrade Interruptions
Exchanges frequently shut down during system upgrades, which is a major issue that causes significant downtime that can result in frustration, lost opportunities, and earnings for traders. Phemex's innovative technology ensures the exchange continues to operate smoothly during system upgrades, providing a seamless trading experience.
Network Cable Unplugging During Periods of High Traffic
Another common problem faced by exchanges is network cable unplugging during periods of high traffic. This can result in the exchange becoming unavailable, which hampers traders' ability to execute trades when they most need to. Phemex's technology addresses this issue by ensuring the system can handle high levels of traffic without any interruption, always allowing smooth trades.
Phemex Successfully Applies Advanced Technology to Margin Trading and Future Products
Phemex launched its Margin Trading product earlier this year and ha successfully applied this new patented technology to it. The technology has been instrumental in providing traders with a seamless trading experience on the platform. The Company plans to apply this technology to unified accounts and new Web3 products in the future, which will even further enhance the trading experience for its users.
Stella Chan, CMO of Phemex, said: "Phemex has always had a laser-like focus on improving the trading experience for our users, and this will certainly continue in the future. This successful patent application filing for our cutting-edge technology is a testament to this focus and goes hand-in-glove with our strong commitment to constantly upgrade our own products while applying centralized product capabilities to future decentralized services."
Phemex's successful patent application filing expedites solving the most common problems faced by blockchain exchange platforms and clearly illustrates the Company's innovating spirit and willingness to continuously enhance the trading experience for its users. With plans in the pipeline to apply this technology to future products, Phemex is poised to continue providing its users with a seamless and reliable trading experience.
About Phemex
Phemex is a certificated crypto exchange providing an efficient and transparent trading experience with a commitment to all-round asset protection backed by state-of-the-art security technologies and Merkle-Tree Proofs-of-Reserves practice. Founded by a team of industry veterans, Phemex delivers personalized solutions 24/7 that facilitate the building of users' crypto portfolios through its low latency and scalable environment, as well as a fair matchmaking system that ensures prices and timing are prioritized.
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